EURASIA_SOCIAL_CHANGE_LTD - Accounts

EURASIA SOCIAL CHANGE LTD - Company Information

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Company Registration No. 07372357 (England and Wales)

EURASIA SOCIAL CHANGE LTD

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

EURASIA SOCIAL CHANGE LTD

COMPANY INFORMATION

Directors

Simon Forrester

Guy Jeremy Forrester

Company number

07372357

Registered office

Abbey Dove House

Jacks Lane

Turvey

MK43 8DH

Accountants

TaxAssist Accountants

60B Bromham Road

Bedford

MK40 2QG

Business address

15 Sokak 180 Mart

Beykoy Sitesi

Beysukent

Ankara, Turkey

06530

EURASIA SOCIAL CHANGE LTD

CONTENTS

Page

Directors' report

Accountants' report

Profit and loss account

Balance sheet

Notes to the financial statements

5 - 8

EURASIA SOCIAL CHANGE LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 1 -

The directors present their report and financial statements for the year ended 30 September 2015.

Directors

The following directors have held office since 1 October 2014:

Simon Forrester

Guy Jeremy Forrester

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

Simon Forrester

Director

5 April 2016

EURASIA SOCIAL CHANGE LTD

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EURASIA SOCIAL CHANGE LTD FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eurasia Social Change Ltd for the year ended 30 September 2015 set out on pages 3 to 8 from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Eurasia Social Change Ltd, as a body, in accordance with the terms of our engagement letter dated 25 October 2010. Our work has been undertaken solely to prepare for your approval the financial statements of Eurasia Social Change Ltd and state those matters that we have agreed to state to the Board of Directors of Eurasia Social Change Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eurasia Social Change Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Eurasia Social Change Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Eurasia Social Change Ltd. You consider that Eurasia Social Change Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Eurasia Social Change Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

TaxAssist Accountants

5 April 2016

Accountants

60B Bromham Road

Bedford

MK40 2QG

EURASIA SOCIAL CHANGE LTD

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

2015

2014

Notes

Turnover

90,680

87,963

Cost of sales

(16,679)

(25,702)

Gross profit

74,001

62,261

Distribution costs

(715)

(464)

Administrative expenses

(38,521)

(29,001)

Profit on ordinary activities before taxation

34,765

32,796

Tax on profit on ordinary activities

(6,885)

(4,236)

Profit for the year

27,880

28,560

EURASIA SOCIAL CHANGE LTD

BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 4 -

2015

2014

Notes

Fixed assets

Intangible assets

17,366

26,049

Tangible assets

253

166

17,619

26,215

Current assets

Debtors

3,416

21,125

Cash at bank and in hand

566

1,042

3,982

22,167

Creditors: amounts falling due within one year

(9,264)

(32,425)

Net current liabilities

(5,282)

(10,258)

Total assets less current liabilities

12,337

15,957

Capital and reserves

Called up share capital

Profit and loss account

12,327

15,947

Shareholders' funds

12,337

15,957

For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board for issue on 5 April 2016

Simon Forrester

Director

Company Registration No. 07372357

EURASIA SOCIAL CHANGE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 5 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The company has taken advantage of the exemption, conferred by Financial Reporting Standard 1, from presenting a cash flow statement as it qualifies as a small company.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

The turnover and loss before taxation is attributable to the one principal activity of the company.

Turnover attributable to geographical markets outside the United Kingdom amounted to 100.00% (2014 - 100.00%).

1.4

Goodwill

Goodwill is amortised over 7 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

33.3% straight line

1.6

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

Operating profit

2015

2014

Operating profit is stated after charging:

Amortisation of intangible assets

8,683

Depreciation of tangible assets

255

141

Directors' remuneration

10,419

8,650

Taxation

2015

2014

Domestic current year tax

U.K. corporation tax

6,885

4,236

Total current tax

6,885

4,236

EURASIA SOCIAL CHANGE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 6 -

Dividends

2015

2014

Ordinary interim paid

31,500

Intangible fixed assets

Goodwill

Cost

At 1 October 2014 & at 30 September 2015

60,781

Amortisation

At 1 October 2014

34,732

Charge for the year

8,683

At 30 September 2015

43,415

Net book value

At 30 September 2015

17,366

At 30 September 2014

26,049

Tangible fixed assets

Plant and machinery etc

Cost

At 1 October 2014

424

Additions

342

At 30 September 2015

766

Depreciation

At 1 October 2014

258

Charge for the year

255

At 30 September 2015

513

Net book value

At 30 September 2015

253

At 30 September 2014

166

EURASIA SOCIAL CHANGE LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 7 -

Debtors

2015

2014

Trade debtors

2,943

20,547

Other debtors

473

578

3,416

21,125

Creditors: amounts falling due within one year

2015

2014

Trade creditors

3,800

Taxation and social security

6,885

4,236

Other creditors

2,289

24,389

9,264

32,425

Share capital

2015

2014

Allotted, called up and fully paid

10 Ordinary of £1 each

Statement of movements on profit and loss account

Profit
and loss
account

Balance at 1 October 2014

15,947

Profit for the year

27,880

Dividends paid

(31,500)

Balance at 30 September 2015

12,327

EURASIA SOCIAL CHANGE LTD

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2015

2015

2014

Turnover

Sales - Overseas

90,680

87,963

Cost of sales

Subcontract labour

9,213

22,475

Profit/loss on foreign currency

7,466

3,227

(16,679)

(25,702)

Gross profit

74,001

62,261

Distribution costs

715

464

Administrative expenses

38,521

29,001

(39,236)

(29,465)

Operating profit

34,765

32,796

Profit before taxation

34,765

32,796

EURASIA SOCIAL CHANGE LTD

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 8 -

Control

Mr S Forrester holds ulitmate contol of the company due to his 100% shareholding.

EURASIA SOCIAL CHANGE LTD

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

2015

2014

Turnover

Sales - Overseas

90,680

87,963

Cost of sales

Subcontract labour

9,213

22,475

Profit/loss on foreign currency

7,466

3,227

(16,679)

(25,702)

Gross profit

81.61%

74,001

70.78%

62,261

Distribution costs

Entertaining - non allowable

715

464

Administrative expenses

Directors' remuneration

10,419

8,650

Rent re licences and other

2,760

3,800

Repairs and maintenance

776

1,292

Printing, postage and stationery

611

810

Advertising

Telephone

251

Computer running costs

402

Travelling expenses

12,858

3,503

Accountancy

1,345

1,270

Bank charges

464

213

Sundry expenses - allowable

100

Subscriptions - allowable

Depreciation on intangible assets

8,683

Depreciation on plant and machinery

255

141

(39,236)

(29,465)

Operating profit

34,765

32,796

Profit before taxation

34,765

32,796